From early 2007 to mid-2008, the short-run aggregate supply curve of the United States shifted to the left.

Name: From early 2007 to mid-2008, the short-run aggregate supply curve of the United States shifted to the left.
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The statement is true. The leftward shift in the short-run aggregate supply curve during this period was primarily due to a steep increase in oil prices and other commodity prices, as well as a tightening of credit markets and a decline in consumer and business confidence.

From Early 2007 to Mid-2008, the Short-Run Aggregate Supply Curve